Mitsubishi Electric Co. (OTCMKTS:MIELY) Short Interest Update

Mitsubishi Electric Co. (OTCMKTS:MIELY) was the recipient of a significant decline in short interest in the month of May. As of May 15th, there was short interest totaling 44,918 shares, a decline of 80.8% from the April 30th total of 234,322 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 186,220 shares, the days-to-cover ratio is currently 0.2 days.

Analyst Upgrades and Downgrades

MIELY has been the subject of a number of research reports. UBS Group raised shares of Mitsubishi Electric from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. Zacks Research downgraded shares of Mitsubishi Electric from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Mitsubishi Electric currently has a consensus rating of “Hold”.

Mitsubishi Electric Stock Performance

Shares of MIELY traded down $1.32 during midday trading on Friday, hitting $81.81. 65,865 shares of the stock traded hands, compared to its average volume of 125,293. Mitsubishi Electric has a 1-year low of $39.00 and a 1-year high of $86.00. The firm has a market capitalization of $86.44 billion, a PE ratio of 77.18 and a beta of 0.73. The business’s 50 day moving average price is $74.94 and its two-hundred day moving average price is $67.56.

Mitsubishi Electric Company Profile

Mitsubishi Electric Corporation (OTCMKTS: MIELY) is a Tokyo-based multinational manufacturer of electrical and electronic equipment. Founded in 1921, the company is part of the broader Mitsubishi Group and has grown into a diversified industrial enterprise serving commercial, industrial and consumer markets. Mitsubishi Electric develops, manufactures and sells a wide range of products and systems used in building systems, factory automation, power generation and distribution, transportation, and information and communication infrastructure.

The company’s product and service portfolio includes air-conditioning and heating systems, elevators and escalators, factory automation and control equipment, power and electric systems, transportation systems and signaling for railways, and semiconductors and electronic devices.